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Lawyers Insurance and NCBA Pilot Disability Program

Obtain Coverage without health questions or an exam

Protection against income lost due to a disability is perhaps the coverage most overlooked by lawyers. Solos and small firm practitioners tend to procrastinate, and lawyers in larger firms mistakenly believe that their group policy provides ample protection.

Apart from death, a disability can be the most devastating event to befall a family. Imagine that you lost your job, and you were prevented from finding another. Imagine further that the event producing the disability created more expenses, and the need for more income, than when you were working. It's all more likely than you realize.

Solos and small firm lawyers most often will want to obtain individual disability coverage. It usually has a level premium, is non-cancelable, and it protects you from a disability that prevents you from engaging in your 'own occupation' as a lawyer. Your income limits how much coverage you can obtain, so you need to obtain coverage as soon as your income merits it, and you may need to update it throughout your career.

Lawyers in larger firms usually have group coverage, but it typically only covers 60% of income to a maximum benefit level, and because most group policy premiums are paid with pre-tax dollars, in the event of a claim the benefit will be taxable. These lawyers should obtain 'supplemental' individual coverage to maximize their protection. Unfortunately, only a small percentage understand the need and act on it.

There is no easier time than now to remedy the situation. The Standard Insurance Company is offering NC Bar Association members, through Lawyers Insurance, a top of the line individual disability policy at discounted rates. And, lawyers can obtain up to a $4,000 monthly benefit without medical questions or a health exam. This is a very unusual offer, and we encourage all NC Bar Association members to review their needs and act now. If you would like further information, contact Ken Hudson at Lawyers Insurance Khudson@LawyersMutualNC.com or 800-662-8843.

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